Bank of America (NYSE: NAD) updates 52.3% ownership of Nuveen fund preferred shares
Rhea-AI Filing Summary
Bank of America Corporation and Banc of America Preferred Funding Corporation filed Amendment No. 15 to update their Schedule 13D for Nuveen Quality Municipal Income Fund preferred shares. They report beneficial ownership of 7,995 preferred shares, representing 52.3% of the preferred class.
The change in percentage results from the issuer’s outstanding preferred shares decreasing to 15,276, as reported on June 17, 2026. The amendment notes no transactions in the issuer’s securities and primarily refreshes ownership data and related schedules and exhibits.
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Key Figures
Beneficial ownership: 7,995 preferred shares
Ownership percentage: 52.3%
Preferred shares outstanding: 15,276 shares
+2 more
5 metrics
Beneficial ownership
7,995 preferred shares
Preferred shares of Nuveen Quality Municipal Income Fund beneficially owned by reporting persons
Ownership percentage
52.3%
Percent of preferred share class represented by 7,995 shares
Preferred shares outstanding
15,276 shares
Outstanding preferred shares of the issuer as reported June 17, 2026
Shared voting power
7,995 shares
Shares over which reporting persons have shared voting power
Shared dispositive power
7,995 shares
Shares over which reporting persons have shared dispositive power
Key Terms
Schedule 13D, beneficially owned, adjustable rate munifund term preferred shares, munifund preferred shares, +2 more
6 terms
Schedule 13D regulatory
"This Amendment No. 15 (this 'Amendment') amends, as set forth below, the statement on , dated December 10, 2013"
A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.
beneficially owned financial
"11Aggregate amount beneficially owned by each reporting person 7,995.00"
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
Power of Attorney regulatory
"Item 7 of the Original is hereby amended by deleting Exhibit 99.1 and Exhibit 99.2 thereto and the insertion of the following exhibits: Exhibit Description of Exhibit 24.1 Power of Attorney"
A power of attorney is a legal document that allows one person to make decisions and act on behalf of another person, often in financial or legal matters. It’s like giving someone a trusted helper or agent the authority to handle important tasks if you are unable to do so yourself. This matters to investors because it can impact how their assets are managed or transferred if they become unable to oversee their affairs.
Joint Filing Agreement regulatory
"Exhibit Description of Exhibit 24.2 Power of Attorney (BAPFC) 99.1 Joint Filing Agreement"
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FAQ
What does Bank of America’s Schedule 13D/A mean for Nuveen Quality Municipal Income Fund (NAD)?
The amended Schedule 13D reports Bank of America entities beneficially own 7,995 preferred shares of NAD, or 52.3% of that preferred class. The update reflects a decrease in total preferred shares outstanding to 15,276, rather than new share purchases or sales.
Why did Bank of America file Amendment No. 15 to its Schedule 13D for NAD?
Amendment No. 15 was filed to update the percentage of preferred shares beneficially owned after Nuveen Quality Municipal Income Fund’s outstanding preferred shares decreased to 15,276. The filing clarifies that no new transactions occurred and revises ownership data, schedules, and related exhibits.
Who are the reporting persons in the Nuveen Quality Municipal Income Fund (NAD) Schedule 13D/A?
The reporting persons are Bank of America Corporation and Banc of America Preferred Funding Corporation, both organized in Delaware. They jointly report beneficial ownership and shared voting and dispositive power over 7,995 preferred shares of Nuveen Quality Municipal Income Fund.